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to orders from the defense industry. i of the country falls over the fiscal cliff, huge cuts to the u.s. military budget will take place automatically -- if the country falls over the fiscal cliff. >> coming up, a new mozart interpretation that uses the latest in animation technology. >> but first, a roundup of stories making news now. the former israeli opposition leader has announced she will return to politics to lead a new party called the movement. the former foreign minister says the party will run in january elections. she described it as an alternative that will push for peace for the palestinians. >> in britain, at least two people have been killed in flooding that followed days of heavy rains. some 800 homes throughout the country are under water. prime minister david cameron pledged government help for the victims. the floods of the worst since 2007 when much of the nation was inundated, causing damages estimated in the millions of pounds. >> the president of belarus says he is proud to be the last dictator in europe. the comments came during a rare interview with the voyag
. suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put revenue on the table. but it's time for the president and democrats to get serious about the spending problem that our country has. >> the president's move came one day after two other big developments, suggesting democrats want tax hikes on the rich now, with the promise of cuts to programs like medicare later. on tuesday, senator dick durbin flatly declared entitlement reform should not be on the table. yesterday, top white house officials also met with leading liberal groups, from labor unions to moveon.org. with one at
, after discouraging news about the so-called fiscal cliff, when tax cuts expire and drastic spending cuts kick in at the end of the year. the senate's top democrat says he's frustrated by the lack of progress. the dow fell 89 points. the nasdaq index was off nine. >>> big tobacco is being told to confess. a federal judge is ordering the tobacco companies to admit publicly that they lied about the dangers of smoking. they must also take out ads that say smoking is responsible for some 1,200 deaths every, single day. the judge, yesterday, gave explicit instructions on the wording of the ads. still, no reaction yet from the tobacco companies themselves. >>> a congressional watchdog agency says it is time to dump the dollar bill. the government accountability office says the u.s. could save almost $150 million a year by switching to dollar coins. now, bills only last about 18 months while coins last for years. but the gao admits, the public prefers paper money. >> all that jingling in your pocket would get annoying. >>> a second apple executive has reportedly lost his job over the map app fla
fiscal cliff about spending cuts that kick in at the end of next month. it was another down day on wall street as investors grow increasingly worried about whether they can avoid financial disaster. they are deadlocked over raising taxes on well, the they are americans. -- wealthier americans. sea think he should stop campaigning. >>> they are working out an agreement and he is back on the campaign trail, presumably with the same old talking points we are quite familiar with. >> reporter: but they say the white house is fully engaged while taking his case to the public. >> now that the election is over, we should stop talking to them about these vital issues i think is bad advice. >> reporter: how the president is taking his message to social media i will have that during my next update. allison burns, ktvu channel 2 morning news. >>> and city leaders are asking for advanced warning in the event same sex marriage becomes formally legalized. california's voter approve ban on gay marriage and if the high court refuses to hear proposition 8 would stand and become legal in california. san f
yet. we all need to focus very closely on the fiscal cliff and sequestration cuts that it includes. the impacts on san francisco could be devastating. until we have more clarity, what congress as a whole might or might not do we will need to remain vigilant about protecting our reserves and the city's financial position. that said i'm encouraged by the reelection of president obama and certainly for the leadership that leader pelosi has given and will continue to give. we will need their leadership as the president must quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of all defense and non-defense federal spending irrespective of policy or its impact on everyday people. these cuts would be absolutely devastating to our national and local economies. our -- show that sequestration
in the fiscal cliff, government spending cuts and tax side and we feel they will negotiate down, put forth a package. that package will be torn apart and to not full too much gdp, i see growth happening but if it is viewed take too much bread out of the economy weakens the into recession and that is why we are cautious short-term right now making rebalance as soon as they deliver a package about the fiscal cliff. dave: with a price target on apple? >> 725. dave: if you would do this for five seconds, >> institutional ownership, google 66. dave: thank you very much. dave: the s&p futures pit. >> thanks for having me. dave: no action but plenty of meeting inside the beltway. the president ready to sit down with more ceos to discuss coming tax increases and potential budget cuts. we haven't seen any suggestions. middle class americans, we are live at the white house. liz: main street businesses taking matters into their own hands. sending this letter to congress urging them to have tax reform. we are talking to the ceo, president of the national federation of independent business who signed a
with this thought. over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the cpo itself is saying the only way to do this is getting obamacare out of there. what are the republicans starting to say? this will destroy the republican party because the party will have lost it soul. what else differentiates it from the party? >> here is the problem. the republicans have been saying for two years that this tax increase would destroy jobs and hope for a recovery. either they were lying then or if they were going along with it. they were lying now. which is it? >> this is interesting to me. why is the media working with the democrats on this very point about taxes. why is
to submit. what's everybody talking about? >> the fiscal cliff. >> stephen: fiscal cliff, yeah. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2009 by the taliban. >> stephen: let's put a pi
cliff. debt ceiling. tax cuts. fiscal cliffs. >> that's 5-month-old mace john jackson and tax hikes and now the president and dan lothian from the white house, how is the president handling this? he's probably not doing as much laughing. >> reporter: what you saw today is the president bringing in americans. he says they will be impacted if the middle class tax cuts are not extending. they sent a message out there to republicans saying that they need to come on board and support this effort. republicans pushing back thinking that they don't think the upper income americans should see their taxes go up. what the president said to those who were here and those watching, put pressure on their lawmakers to support pushing out the bush era tax cuts for just middle class americans, not just through this effort but to text, to call, to send a fax, even twitter and the white house coming up with y2k referring to the amount of average middle class families would see their taxes go up by the white house says, $2200. so the pressure coming not only through social media but also the president i
is struck over the fiscal cliff. the automatic spending cuts, defense and non-defense. in the report, educational achievement and special- education programs would be shaved by an 2.3 billion. this was written in september. in "politico" there is an opinion piece by the person who serves on the education board, president of the national school boards association and member of the board of education in kentucky. he writes -- so a little better about money and this conversation we're having this money, ties into the fiscal cliff talks, because defense and non-defense spending, automatic cuts take place if no deal is reached. so we are turning to all of you outside washington this morning. how would you fix your school system? natasha in macon, georgia, an educator. caller: yes. host: what are your thoughts? caller: schools need to allow various ways of teaching. a very rigid process where we are looking for one out, but not allowing different ways to teach multiple varieties of students. host: what does that mean? you have to teach in a certain way because of testing requirements? call
the fiscal cliff contain no medicare, medicaid, and social security benefit cuts. it puts them at odds with the president who has said everything should be on the table, including entitlements, senate republican leader mitch mcconnell. >> we want to save these programs and i understand the dilemma the president and the majority leader have. their hard left doesn't want to change anything ever. >> reporter: but the top senate democrat harry reid says republicans are the ones dragging their heels. there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. >> reporter: republicans point out that medicare and medicaid are the largest future drivers of the debt. they say they won't agree to increased revenue from taxes unless they get entitlement cuts as well. scott, it's safe to say there are going to be people on the right and left howling mad at no matter what this deal looks like. >> pelley: nancy, thank you very much. one idea they're looking at is scalin
and budget cuts from the so-called fiscal cliff. the president met with small business owners on tuesday to talk about the effect on their companies from taxes and other charges. right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. and last night on hardball, former republican senator alan simpson gave his thoughts on the fiscal cliff and failure of lawmakers to reach an agreement. p. >> they love their party more than they love their country. how it we get to that point, don't ask me, but the whole business of reform and money in the campaign and beat up the guy, and it's not a case of who wins. it's you want to be sure somebody loses. and i say to people whether it's grover norquist or whatever, lord's sake, if you can't step up to the plate, what can happen to you? they can't murder you, they can't burn your house. the only thing they can do is defeat for you re-election by throwing some coo-coo from the left or right on you and if that means more than your country when it's ex
to avert the so-called fiscal cliff, those are the tax increases and spending cuts that will take effect next year. republicans and democrats continue to squabble over raising taxes and sparing entitlement programs like medicare and medicaid. today the president discusses the issues with leaders of major corporations. he met with small business leaders yesterday. susan mcginnis is in washington. >> reporter: while the two sides remain deadlocked president obama is taking his case to the american people trying to drum up support. republicans are complaining that instead of being out campaigning he needs to sit down with them and work out a deal. it's a short drive up pennsylvania avenue from the capital to the white house but congressional republicans and president obama are getting farther apart in their effort to keep the nation from veering off the so-called fiscal cliff. a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side is having difficulty turning off the campaign. >> reporter: the white house says the campaign
the negotiations on the fiscal cliff. that's two things. $500 billion tax increase, the 2001, 2003 tax cuts lapsing and sequestration of spending restraint. it is a good thing, but saving $100 billion, -- >> not a common republican point of view. a lot of defense cuts. >> the head of the conservative caucus, 60% of most conservative guys in the house, jim jordan said the only thing worst than the sequester would be not having the savings and you saw mitch mcconnell saying we aren't ending the sequester. people are drawing lines in the sand -- let's try to cut to it. >> it has to be on c-span only then would the president have to say and boehner would say your spending cuts are what? cbs and nbc hasn't done that. and he was wandering around and if you look at the savings in this budget, $800 billion for not occupying iraq. and he cuts that as part of the savings. he counts of the savings, then you can't have the situation where republicans get why don't you raise taxes all day and no focus. once the bill is written, it needs to be online so everybody can go on their computer and read it and guys in
weeks away from the fiscal cliff and still no progress. there is a massive tax hike in spending cuts, it only intensifies on comments by harry read essentially confirming the budget talks still remain worlds apart. the dow down nearly 90 points. >> this will be a big topic in the future. college loan debt. that could be the next housing bubble. >> the federal lending making college education to any one is really only creating a pile of debt so large that since 2007 it has risen 56 percent while other forms of debt like auto debt mortgage debt that declined. u.s. student debt rose $950 billion according to the federal bank of new york. now 11 percent of those balances are at least 90-days late. that is higher than credit card late payments for the first time in history. >> if the student continue to default that is the u.s. taxpayers picking up the tabs. >> most of the student debt is in the grace period so the number is probably even higher. >> we will keep following that one. christmas air fares are expected to be up. airlines continue to gouge us. >> you will pay 8 percent more tha
to talk about averting the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners yesterday to talk about the effect on their companies from taxes and other changes. and right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. >>> elsewhere on the hill, u.n. ambassador susan rice spent her day behind closed doors explaining statements she made back in september about those deadly attacks on the u.s. consulate in libya. her defense failed to convince her republican critics. nbc's tracie potts is on capitol hill with more on this. tracie, good morning to you. >> lynn, good morning. rice admitted that when she said the ambassador and three others who were killed were the result of spontaneous attacks, the information was partially wrong. as she has done before, in a statement after her meeting, she blamed it on bad intelligence information, talking points where references to al queda had been taken out according to sources and attacked ch
. for the president, does he want to do this? he's going to have to cut a deal with republicans on the fiscal cliff. he has other big issues to deal with. he has several other cabinet nominees. does he want to dig in and pick a fight with someone he has personal loyalty to? what was the biggest problem, college educated women and people of color, do they want to oppose? both sides would have dicey political choices. there's a lot of talk in washington susan rice is undermined politically. it might hurt her in washington, but, wolf, you've covered world capitals. think about the world. if the president were to fight for her, again that's an if, people would say she's obviously his person, he's loyal to her. even someone like colin powell, people always wondered, am i talking to george w. bush or colin powell? will he be undermined by donald rumsfeld or dick cheney? if she wins, her stature might go up around the world. >> even if she were to be confirmed with let's say 60 votes, five republicans would jump and endorse her, the secretary of state supposed to represent everyone be a bipartisan leader
. >> reporter: the reality of the fiscal cliff, could you have to cut jobs? >> yes. we are worried about that. if production has to slow down and the orders stop coming in from people not spending the extra money for our products, yes. >> reporter: do you have any idea, any indication of what will -- will determine that? what percentage you could be looking at? >> at this time, no. we will just have to watch it closely, come january. you know, we are in the holiday season now, which is a very busy time for us. but after that, i we will have to watch it closely and see where we go. we don't want to lose any of our 116 employees because we value them greatly. >> coming up, how is the fiscal cliff like a horror movie? the answer, coming up next. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. d bp's also committed to america. we support nearly 250,000 jobs and invest more here than a
have a fiscal curve/cliff/mole hill, however you choose to describe it, that includes, of course, the bush tax cuts, but also, the bigger piece is sequestration and the payroll tax cut again. another fight the president has had before. what do you make of his focus only on the bush tax cuts and specifically the middle income earners. >> this was a theme throughout the campaign, something he came out early on and hit hard on. it underscores this larger issue about inequality in this country which is an economic problem. you can't have a sustained recovery when 98% of the population hasn't gotten a raise in the last few years or decades depending on who they are. i think people are starting to focus on that. i think this issue of taxes is crucial of that. i think if we're going to go to the other cuts that need to happen, the entitlement reform you need to have a sense from the population that the rich are doing their part, that there is a sort of social cohesion. you can look to europe and see what happens when you don't have that. >> the president spoke in his comments effectivel
shes, the so-called fiscal cliff now in the short-term but wait for spending cuts later next year. take a listen. >> it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way. including asking the wealthiest americans to pay a little more. >>reporter: the president said he would be willing to have a framework in the short-term for spending cuts neck year but republicans likes speaker boehner are saying if you split all this up and only do the tax side and wait on the spend cuts until next year republicans are skeptical the spending cuts will ever actually materialize. this is all very critical because earlier today, erskine bowles, a budget expert who has become an influential figure, said he thinks that there is a two out of three chance that we are going to fall off the fiscal cliff it is a high probability. >>neil: gephardt think it is a possibility to kick the can down for three, six months, and let all of the cuts, delay the cuts, and delaney dressing on the rates for at le
ceiling debate. obviously the tea party. they put in the sequester cuts, and now is the fiscal cliff. now, i think globally it i largely viewed as something that would be pretty to crony in. the comments, the monetary policy is not something that can offset it. it will probably put this into a recession. i don't think you're going to see a grand bargain, but i think you will see steps to start the have a down payment of working our way into facing. gerri: a short-term resolution, maybe. let's at least get past the deline. maybe then we move into abigger discussion of real tax reform and intel now reform. is tat something that somebody in your position with favre? >> i think tt stcturally we need to see reforms on the spending as well as the tax side i don't think you will see that of the the next four weeks, but you will start to see that and you willtart to seekavors of that. it will be a decent shot. that is the cliff. so i think you will start to see that face them, and you will start to see both sides. already you're starting to see the republican side of the house except more of a wi
on the fiscal cliff as americans on all levels have to prepare to take the tax hit. i hope it doesn't, but i'm going to break it down next. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the rit attorney to help guie you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized docunt tanswer any questions. get started at legalzoom.com today. and now you're protected. get started at legalzoom.com today. why they have a raise your rate cd. toght our guest, thomas sargent. nobel laureate in economics, and one of the most cited economisists in the world. what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally
days before drastic tax hikes and spending cuts are triggered by the fiscal cliff. speechless. two parties can't seem to make any progress on entitlement reform. earlier on "starting point" senator dick duchlt rbin said this is no time to discuss cuts to medicare, medicaid and social security, but republicans say it's the only way to steer clear of the cliff. >> washington democrats have spent money without any care for the cost or the future. and refuse to do anything to protect long-term spending programs like medicare, a failure that is among the biggest single drivers of our debt. >> whatever changes we want to make should be thoughtful changes, not made in the heat of the fiscal cliff, not done in the closing days here in a lame duck session. let's lock at this thoughtfully and at the end of the day say that medicare is going to survive and be stronger. >> how can democrats and republicans find common ground? we'll ask the former republican governor of new jersey, christine todd whitman. >>> with bikini bodies strolling along south beach, no surprise that travel & leisure maga
and jan schakowsky and the latest on the fiscal cliff. >>> the meet iing with the president looks good for progressives. we'll get the scoop from james hoffa. >>> plus breaking news. republicans running the benghazi witch hunt remain disturbed and troubles. >> i'm more disturbed and significantly troubled. >> i'm more troubled. >> joan walsh on today's big meeting with susan rice. >>> and yesterday ricks rolled fox news. >> i think that the emphasis on benghazi has been extremely political because fox was operating as a wing of the republican party. >> today fox news strikes back. >>> good to have you with us tonight, folks. thanks for watching. the white house is keeping republicans in a box. president obama is hitting the road to push the extension of tax cuts for income, for folks under $250,000 a year. the president will kick off his tour in southeastern pennsylvania on friday. today he met with small business owners at the white house and tomorrow he plans to meet with a group of middle-class families. republicans will be countering with their own events. house majority whip is ho
cuts. irvin predicts, president obama will need to take the republicans over the fiscal cliff before they will compromise. the twitter user whatrugonnado, they hope president obama fights for medicaid as hard as they fight for susan rice. keep sharing your thoughts with us on facebook and on twitter using the #edshow. >>> an apology, but doesn't refute his claim that the network is a wing of the republican party. stay with us. >>> thomas ricks tells the truth and fox news doesn't like it a bit. yesterday ricks called fox news out for its politicization of benghazi. >> i think benghazi was hyped by this network especially. >> when you have four people dead including the ambassador, how do you call that hype? >> how many security contractors died in iraq, do you know? >> i don't. >> nobody does because nobody cared. i think that the emphasis on benghazi has been extremely political because fox was politicizing as a wing of the republican party. >> that interview was cut short and following his appearance, ricks tells politico he saw some surprise faces in the hallway over at fox after
. >> things that will have to be cut through this whole fiscal cliff thing i want to make sure that, support for small businesses --. melissa: no, you don't want your thing to get cut. th is the problem here. nobody wants their special interest to get cut. i'm sure you mentioned that. i don't think i understand your business. back to the roots is an urban mushroom farm growing gourmet mushrooms and mushroom kits. what is a mushroom kit? >> a mushroom kit, when the boxes i have right here. small little brown box. we use recycled coffee grounds from local cafes in the bay area. collect all the coffee ground waste being thrown away bring it back to the urban farm turn it into the soil for these kits. get a box like this, open it up and 10 days get first crop of gourmet mushrooms right out of the box. inspiring people to grow their own food and realizing you don't need a green tmb or big backyard. that anyone can grow their own food. take a waste stream growing own food. melissa: i'm sitting here in shock. you use coffee grounds to grow mushrooms. >> yeah. melissa: are you profitable? do you mak
and the president are no closer to a deal to avoid masigs, tax increases in spending cuts that so called fiscal cliff. the senate top rbi republican says the president is back on the trail instead of sitting down with lawmakers to negotiate a settlement. the president met with small business owners to built support for the aproich. tomorrow, meeting with middle class families. the president wants higher taxes for the wealthy. and un ambassador susan rice went to capitol hill to meet with republican senators. she's high on the list to secretary of state. she's been under fire from senate republicans over the attac killed four americans, including u.s. ambassador chris stevens. today's meeting did not go well. >> we're doubled by many of the answers that we got. i'm more disturbed now than before. >> the republican senators stopped short of saying they'd block the nomination. they say they need more information and have more questions about the incident in benghazi. >> we're coming up on december to 1. that is the day mayans said the world would end. one scientist has been answering countless let
for simultaneous tax hikes and spending cuts in the united states known as the fiscal cliff. the analysts expect the eurozone will contract again in 2013 and they say the region's gross domestic product will shrink by 1/10th of a percent and predicted positive growth of 0.9% in the previous report six months ago. they lowered the growth expectation for the united states economy from 2.6% to 2%. they pointed to a sluggish recovery. the document warns the fiscal cliff would not only deal a heavy blow to the u.s. but might drag the global economy into recession. as for japan, the oect downgraded the outlook from 1.5% to 0.7%. they cited weak domestic demand. analysts urged the nation to compile detailed reliable plans for fiscal reform. u.s. consumer sentiment hit the highest level in more than four and a half years. researchers at analytics form the conference board say the consumer confidence index rose for a third straight month. the numbers rose to 73.7 in november, up from 73.1 in october. that's against a base value of 100 set in 1985. they say that the christmas shopping season started smoot
of the cut the democrats are willing to offer in the fiscal cliff negotiations. he said, "we need to get credit for cuts previously made." this is today. the cut previously made. i'm scratching my head to figure out what cuts the democrats made prior that they want credit for. if they did make credit cuts why did we run up four more years in a row? start fresh right now. talk about cuts and then talk about how are we going to raise revenues. >> eric: what would -- >> dana: what would harry reid mean by that? get credit on cuts they made. on what? >> bob: that is a $60,000 question. i'm not sure what he is talking about. but i know there will be cuts if entitlement program. readjust in the the entitlement program. there will be a tax increase on the wealthier americans of some size. i cannot believe that obama is going to travel around the country to make us think about this. if he doesn't think he will get them to go along with some marginal increase rates. >> dana: good point. let's get your take on that. president off campaign trail and major victory in the 2012 election. now he will g
goes over the fiscal cliff, it could cut spending over $200 billion. in other words if we come to a consensus financial plan and agree, it could be a $200 billion stimulus to our economy. having a plan in place would also give certainty to businesses and our markets, adding an additional stimulus. failing to take action could slow the growth of our real g.d.p. by 1.4 percentage points in to 13 and allowing the middle class tax cuts to expire would increase federal taxes on a typical middle class family of four by $2,200 in one year. it would throw the country back in recession and cause the jobless rate to go up. congress would be stuffing a big piece of coal into the stockings of americans by not coming together and getting a consensus plan. i yield back. the speaker pro tempore: the jeament yields back the balance of her time. the chair lays before the house a communication. the clerk: the honorable the speaker, house of representatives, sir, the purpose of this letter is to accept a position on the agricultural committee and tender my resignation from the natural resources c
the so-called "fiscal cliff." a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side are having some difficulty turning off the campaign. >> reporter: the white house says the campaign gives the president support from the american people. >> the election was conclusive in terms of which path a majority of americans want to take. >> reporter: president obama will try to build support when he meets with middle class americans here in washington today. he will ask them how the "fiscal cliff" could impact their lives. on tuesday, he invited small business owners into the oval as of to offer their ideas. >> they had one message for the president at the oval office, they need certainty. please get this deal done as soon as possible. >> reporter: but spend anytime on capitol hill and it's easy to see a deal isn't forthcoming soon. >> there's been little progress with the republicans, which is a disappointment to me. >> their hard left doesn't want to change anything ever. they think any dollars spent or any commitment
concerns about the president's plan to avoid tax hikes and spending cuts associated with the fiscal cliff. especially a campaign-style warning to middle class voters. it may be more about the 2014 mid-term elections than fiscal responsibility. it's one of the traditional sounds of the christmas season but it will be a silent night for the salvation army bell ringers in one american community. why? [ male announcer ]lka-seltzer plus presents the cold truth. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] can't find theraflu? try alka-seltzer plus for fast, liquid, cold, and flu relief. megyn: an update of a father and his y
the things he is discussing today, the fiscal cliff. we go over that at the end of the year when the tax cuts expire and spending cuts go into place. he talks about susan rice, the ambassador to the united nations who spoke after the attack in benghazi. >> with my full cabinet for the first time since the election took place, and the primary purpose is to say thank you because everyone here in their respective agencies has done a remarkable job on behalf of the american people across the board on a wide range of issues. they have always prioritized thousand make sure we have a strong middle class and how we grow our economy and put people back to work and how we keep the american people safe and continue to extend our influence and our ideals around the world. i could not have a better collection of people. any of whom have stayed here throughout my first term. we have had little turnover as any president during the course of a first term and the reason is because everyone has done such a remarkable job. so my main purpose is to say thank you. also remind them we have a lot of work to do. the
, cutting from entitlements, are you worried what will happen if we do fall off the fiscal cliff? i'm curious as to how it would affect your business, in particular. >> some of the issues that are a concern for me in terms of the fiscal cliff, primarily are the transportation funding. i'm a civil engineer working out of denver, a small business. any cuts to transportation funding would significantly impact my business. and on a personal level, absolutely, i feel like we do fall in the higher tax bracket as did a lot of the small business owners. and we feel like it is still the right thing to do to make sure that everybody pays their fair share and that a deal is made so that it's equitable across the board. it is too important. the fiscal cliff will affect not only the national community but colorado economics and of course, my business. >> if you talk to me about the people that were in the room and the sentiment that was expressed to the president, i'm curious as to how many people and if there were some solutions, real solutions that were put on the table. >> it was interesting.
. >> fiscal cliff. >> that dreaded fiscal cliff. >> stephen: yes, the dreaded fiscal cliff. an unavoidable money will technology the razor-sharp financial rocks below. it all started back in 2011 during the showdown over raising our debt ceiling when republicans wanted spending cuts and obama wanted to raise taxes. which led to a budget crisis that congress solved by not solving it. (laughter) instead, they handed it over to something called "the supercongress" which couldn't fail because it was super. (laughter) unfortunately it was also congress so it failed. (laughter) and as a result -- (applause) as a result -- (applause) as a result, folks, we are facing another thing called sequestration which at first sounds like rationing the amount you can watch "sea quest." (laughter) but it's even worse than that. (laughter) sequestration is automatic spending cuts that both sides agree would trigger a new recession. it's like congress put a gun to the economy's head and swore it will pull the triger if congress doesn't put its own gun down. (laughter) it's kind of like a mexican standoff witho
's not the powerball lottery. it's the fiscal cliff. just in the last hour, at his first cabinet meeting since re-election, the president expressed the urgent need for a deal, one that he wants to see extend tax cuts for the middle class while letting them expire for the highest earners. >> there is no reason why taxes on middle class families should go up. it would be bad for the economy. it would be bad for those families. in fact, it would be bad for the world economy. and so i think it's very important that we get that resolved. and i am very open to a fair and balanced approach. >> the president met with middle class tax payers today, urging them to employ twitter hash tag my y2k, telling congress this is too important for them to screw it up. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. it's too important for washington to screw this up. >> and a new survey shows the president has the public on board in a new washington post poll, 60% support raising taxes on incomes over $250,000. a hea
wisdom on a fiscal cliff deal does that include receive news and cuts. you made it clear how you feel on revenues. >> we have already done more than $1 billion worth of cuts, so we need to get credit for that in these negotiations that take place. >> senator durbin said he thinks that president obama won't include a deal - [inaudible] >> first of all, the debt ceiling. we would be foolish to work out something on stopping this from going over the cliff and then a month or six months later the republicans pull the same game as they did before and say we aren't going to agree to increasing the debt ceiling. i agree with the president. it has to be a package deal. what was your other question? [inaudible question] >> there are things we have already taken care of, the first of april and take a look at that stuff. that's not essential. [inaudible question] >> we can't do anything with the disaster aid package and i'm told it will be tomorrow or the next day. [inaudible question] >> republican, ok. you said what's holding it up? i said republicans. talk to the republicans. it's up to them
if there is no real spending cuts, they will go off the fiscal cliff, don't think republican!!therepublicans willl without spending. melissa: maybe we will raise taxes now on folks and make a promise down the road to get back together in six months or so or talk about spending cuts somewhere down the road. that would be frustrating to a lot of republicans, do you think they would take that deal? speak i understand the chances of winning the lottery are better than getting the cuts in the future. if they don't get an agreement right now that is firm and real. lori: had to get something specific, not just cut and number, and it turns out like this come in th and the situatih his exploding deadline and may be a number but no specifics in my mind it ends up not happening. >> they can take a framework, but the left tax increases there will be. there will be a tipping point somewhere to get a deal. one thing nobody mentions, the president glossed over this morning. taxes are going up no matter what thanks to obamacare there are surcharges that are not on the table. tax rates are going up regardless of w
when it comes to avoiding the "fiscal cliff." some republicans said they are willing to consider some tax increases but they are insisting on larger budget cuts to benefit programs, which democrats oppose. if all sides can't agree on a spending plan before the year's end, automatic tax hikes and across-the-board budget cuts will all kick in. >> we must do everything we can during this short period of time to ensure that middle class families are not hit with $2,200 a year in tax increases. >> i hope cooler heads will prevail as we move through the process. we need to be working together. >> president obama is trying to generate public support for his idea. he will meet with corporate executives at the white house then travel to pennsylvania on friday to push for higher tax rates for the wealthy. >>> after meeting with her harshest critics, senate republicans say they are even more troubled over u.n. ambassador susan rice's initial response to the deadly terror attack in benghazi. in a closed meeting yesterday, rice met with several senators including arizona republican john mccain. ri
. the fiscal cliff is much scarier to republicans than it is to democrats. so, the president and his allies must continue to make republicans believe they are willing to go off cliff. senator durbin simply said if we do go off the cliff or the curb on january 1st, we have to be able to quote stop economic growth to prevent us from stopping at the economic growth and hurting everyone. in other words, we have to then quickly craft a legislative deal that can stop the damage to the economy that would occur if we went off the cliff and stayed off the cliff. john boehner recognizes that the fiscal cliff is the president's leverage, but boehner believes he has leverage, too. politico reported this morning president barack obama made a demand of how john boehner near the end of their first white house meeting on the fiscal cliff, raised the debt limit before year's end. boehner responded, quote, there is a price for everything. boehner told president obama at the white house that the debt limit increase is quote my leverage. although he added that he's flexible on when it should be done. senator d
if he's insisted on not cutting spending and going over the fiscal cliff. and the reason is the president is out campaigning. he's not being president. he spent the last year not being president. he was campaigning. now that he got reelected he is not being president again. he's not in d.c. negotiating as he said he was going to be. he's not doing campaign work again, and/or golfing. so now, where is this? i'm making two cases to the republicans and to the democrats who will listen. i believe that we should have been negotiations on the fiscal cliff. of course, that's two things. $500 billion tax increase of the 2001-2003 tax cuts lapse in, and the sequestration of spending restraint. sequestration is a good thing. you can massage it into devoted to saving $100 billion a year reducing the -- >> it's not a common republican 20 because of me a lot of defense cuts spent ahead of the of the conservative caucus, 60%, most conservative guys in the house jim jordan said the own thing worse than this request would be not to have savings. and you saw mitch mcconnell say we are not
're meeting is scheduled for the first week in december. >> the fiscal cliff loomed large on wall street. the stocks delined a mist concerns. dough fell 89 point. retailers boasting record sales for sign or monday. a survey shows online sales rhodes 30%. compared to same lime last year. that make it is the biggest online shopping day ever. researchers sate number of people shopping with their smart phones jumped more than 70%. >> a new program is giving potential home inners neither bay area some home. officials in oakland this morning to announce city lift fm. offers down payment assistance. the program a joint effort betweenwells for a foe and the unity council to revitalize neighborhoods. >>> a great holiday season experience 250 families are going tote to get a $20,000 down paint towards stabilizing many of the neighborhoods in oaklandened surrounding cities. >>> city lift fm applies to potential home buyers. anyone interested can aplay at workshop at oakland convention center on the 7th and 8th. >>> the hell rate ised broadcast cancer risk here seems not ton so much special what hap
have five weeks to keep us from going over the fiscal cliff at the end of the year. that would mean automatic tax hikes and spending cuts at the same time and an economists say it could cause another resomething. the president met with congressional leaders from both parties, but harry reid says there has not been much progress since then. mike emmanuel is on capitol hill. republicans are asking for changes to social security and medicare. any common ground? >> shep, in public, it does not sound like it. top republican leaders say if you want to avoid the fiscal cliff, you need to address the drivers of our debt. >> we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has from time to time indicated an openness to that. now is the time to actually do it. >> 42 business groups sent a letter to leaders of congress asking them to do tax reform to lower tax rates and also address entitlement reforms. >> shepard: democrats say they want more revenue, more taxes here.
protesting spending cuts on the far side of the fiscal cliff and what that would mean for aids funding specifically, there was a nude awakening. aids protesters march iing into house speaker john boehner's office to give him the naked truth. boehner, boehner, don't be a sick. budget cuts will make us sick. the budget cuts are really rude, that's why we have to be so lewd. they were trying to lay bare the potential cuts for aids, the protests also served to put a naked spotlight on a major statement expected tomorrow from secretary of state hillary clinton. on the occasion of world aids day, secretary clinton is due to unveil an aids free generation. secretary clinton will make that announcement on thursday morning, but in advance of that renewed commitment to fighting aids, this group, which is known for memorable protests any way, found a way to be more memorable today. one of the groups involved in today's event tweeted, watch naked aids activists take over boehner's office at congress. that was their tweet that you could watch them and you really could. you can watch the live stream
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